South 8 Technologies, which is developing liquid gas electrolyte technology to power lithium-ion batteries, has received a strategic investment from Lockheed Martin
’s [LMT] venture arm to support the commercialization of the company’s technology.
The investment included participation from current South 8 investors LG Technology Ventures, Foothill Ventures, and Anzu Partners.
“The exceptional performance capabilities of the LiGas electrolytes are an enabling technology for increasingly aggressive customer requirements, particularly those set forth by the aerospace and defense industries,” Cyrus Rustomji, CEO of San Diego-based South 8, said in a statement. “We are excited to receive Lockheed Martin’s support as we continue to improve battery technology, reach new markets and lead transition towards a greener future.”
South 8 said LiGas works well at temperatures ranging from minus 60 to 60 degrees Celsius, making it appealing a wider range of applications in the defense space including connected battlefields, unmanned aircraft systems, sub-zero power, all-weather energy uses for grid storage and power backup, marine sea monitoring, electric boats, and submarines. The company also said the technology improves safety, increases energy density, enables fast charging, and reduces costs and is compatible with existing lithium-ion cell production.
“We hope to leverage South 8’s LiGas technology to provide energy solutions that increase safety and energy density while achieving all-weather performance, enabling better field performance,” Chris Moran, vice president and general manager of Lockheed Martin Ventures, said in a statement.
In June, South 8 and NanoGraf, an advanced battery material company, announced they had received a $550,000 contract from the Army Combat Capabilities Development Command to improve battery safety for soldiers.
In December 2021, South 8 announced it had received $12 million in Series A funding led by Anzu with participation from LG, Shell Ventures, Foothill, and Taiyo Nippon Sanso.